The pandemic has accelerated the pace of changes, especially for electronic banking - retail, MSME and corporate. Building on the “Yono”, SBI’s integrated digital banking platform, and hastening the pace of digital banking will also be a crucial task. … [Read more...] about Challenges that Dinesh Khara, the new SBI chief faces
Personal debt ratio
Mukesh Ambani, CMD, Reliance Industries, said, “I am delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation in the world. Through my long-standing ties with Abu Dhabi, I have personally seen the impact of Mubadala’s work in diversifying and globally connecting the UAE’s knowledge-based economy. We look forward to benefitting from Mubadala’s experience and insights from supporting growth journeys across the world.” … [Read more...] about Silver Lake to invest ₹4,550 crore more in Jio Platforms
Indiabulls Housing Finance is aiming to raise up to Rs 1,000 crore through a qualified institutional placement (QIP) launched on Wednesday as well as partial divestment of its stake in UK-based OakNorth Bank in tranches, sources said. "In this, Rs 500 crore (about USD 68.13 million) each is targeted to be raised through the QIP and divestment in OakNorth Bank in next two-three days," a source said. The non-banking finance company (NBFC) intends to raise more capital during this month, another person privy to the fund raise plans said. The Securities Issuance Committee of the board at its meeting held on Wednesday approved the floor price for the QIP at Rs 206.70 per equity share, Indiabulls Housing Finance said in a regulatory filing. At its extraordinary general meeting (EGM) held on July 29, the board had sought shareholders' approval for raising up to USD 300 million (about Rs 2,200 crore) by issuing securities through QIP or through foreign currency convertible bonds (FCCBs) during … [Read more...] about Indiabulls Housing looks to raise up to Rs 1,000 cr through QIP, divestment in OakNorth Bank
By Prashant KumarNew Delhi: In its “Global Economic Prospects” report of June 2020, the World bank said that the world economy was facing its worst recession since World War II and growth was expected to shrink by 5.2 per cent in 2021. Even as several governments across the globe announced relief packages to rescue their economy, many of them will have to face a downturn at least for the short term. For instance, the US economy is slated to shrink by 6.1 per cent in 2020 and that of India by 3.2 per cent in FY21.Yet, this grim reality has escaped stock markets, except for initial blip in March 2020. The Stock Market – argued by some as the daytime adventure serial of the well-to-do - would not be the stock market if it did not have its anti-climax moments or ups and downs. Anyways, the vagaries of stock market may be left out of current topic but what’s in focus is to gauge whether the impact of the pandemic on corporates/businesses is long term or will they … [Read more...] about OPINION: How would Covid-19 impact companies and their financing needs?